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Altan Rio (TSXV:AMO) closes private placement

Brieanna McCutcheon , The Market Online
0 Comments| May 2, 2023

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  • Altan Rio Minerals Limited (AMO) closes private placement
  • 20,000,000 common shares at A$0.065 for a total of A$1.3 million
  • The company previously closed an initial tranche raising A$200,000 on January 6, 2023
  • the offering will be used to support Altan Rio as it moves from explorer to a producer
  • Altan Rio (AMO) is trading at C$0.07 at 2:13 pm EST.

Altan Rio Minerals Limited (AMO) closes the second and final tranche of its previously announced non-brokered private placement.

As for the common shares, there are 20,000,000 at A$0.065 for a total of A$1.3 million.

The company previously closed an initial tranche raising A$200,000 on January 6, 2023.

As for proceeds, the offering will be put towards supporting Altan Rio as it moves from an explorer to a producer.

Graeme Sloan, Executive Chairman and Interim CEO of Altan, added, “Closing this placement is a significant milestone for Altan Rio. The company is in a strong position to continue on its pathway of consolidating the Northern end of the Southern Cross Green Stone Belt.”

Altan Rio is a Canadian-listed, West Australian-focused gold exploration company primarily focused on the Southern Cross Greenstone Belt.

Altan Rio (AMO) Stock is trading at C$0.07 at 2:13 pm EST.




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